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Liquidity M2, Inflation, and Sukuk Issuance: Empirical Evidence

Table 3: ARDL estimation result

[Variable] [Coefficient] [Std. Error] [t-Statistic] [Probability]  
SIV(-1) 0.1060 0.0932 1.1346 0.259
LM2 18199.6 6606.9 2.7547 0.007
LM2(-1) -(16610.98) 6572.4 -(2.5274) 0.013
INFL -(29845065) 1.25E+08 -(0.2381) 0.812
INFL(-1) 2.89E+08 1.94E+08 1.4902 0.139
INFL(-2) -(2.48E+08) 1.27E+08 -(1.960) 0.053
[C] -(1.67E+09) 6.28E+08 -(2.658) 0.009
[R. squared]: 0.9160     Mean dependent var: 1.16E+
[Adjusted R. squared]: 0.8777     S.D. dependent var: 8.15E+
[Regression’ S.E.]: 6.93E+     Akaike info criterion: 43.609
[Resid. Of Sum squared]: 5.18E+     [Schwarz’ criterion]: 43.776
[Log’ likelihood]: -(2500.5)     [Criteria of Hannan Quinn]: 43.677
[Statistic of F.]: 8.303735     [Stat of Durbin Watson]: 1.93
[Probability (F. statistic)]: {0.000}
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